5 Stocks Heading ‘Higher’ on Legalized Marijuana

Companies catering to the stoner lifestyle could win out

Still-President Barack Obama undoubtedly celebrated his Election Day victory with a few hugs from his family, maybe an upscale libation.

But voters in at least a couple states were probably partying just a little bit harder.

Colorado and Washington made history Tuesday as the first states to legalize the recreational use of marijuana for adults 21 and older. While the drug remains banned under federal law, the news still was a major victory for herb aficionados in those states, as well as supporters of the broader legalization movement.

Of course, potentially also joining in the festivities last night were a number of companies who shill products catering to the stoner crowd, and whose wares could come into even more demand now that weed will be a little easier to score.

Here are five such stocks that could be headed higher on legalized marijuana: